Indian government bails out unit trust

The Unit Trust of India is set for a £2bn rescue package from the Indian Government after years of poor performance. The investment vehicle has 29m investors and was set up in 1964 by Act of Parliament and has a current direct salesforce of 64,000. It is the biggest investor in Indian equities.

Recommended

Monday, 2 September, 2002 Type: Guaranteed growth bond Aim: Growth linked to the global basket index Minimum investment: $7,500 Place of registration: Guernsey Investment split: 100% linked to the global basket index Guarantee: Client&#39s choice of between 85 &#45 110% of capital returned in full at end of five-year term regardless of movement of the […]

Royal London has finally announced the name of new protection business – Bright Grey. The company says research showed the name and logo as being modern and distinctive. It promises there will be no grey areas of small print or jargon. There will be a rolling launch beginning in early 2003. London brand consultancy Zalpha […]

The financial services sector has seen many mergers and acquisitions in recent years, with some of the biggest and best-known financial brands in Europe joining forces in an increasingly competitive market environment. Financial institutions are constantly having to update, rebuild and integrate IT systems to create a solid infrastructure that will support their customer base […]

Aegon UK have become the fifth provider to buy a stake in the Misys portal Assureweb. It follows Clerical Medical, Friends Provident, Norwich Union, Scottish Widows purchase of 40 per cent of the portal in January. Misys retains a majority stake of 60 per cent. Collectively the five providers have made a £9.2m investment in […]

By Felix Wintle, Manager of the Neptune US Opportunities Fund H1 2014 Economic data: after last year’s strength, economic data has disappointed. Indeed, the economy contracted 2.9 per cent in the first three months of the year — the US economy’s worst performance for five years. However, rather than a symptom of underlying economic weakness or […]

Newsletter

Latest from Money Marketing

A group of 500 people have launched legal action against Ingenious Media saying they were misled about film investments that were later deemed to be tax avoidance by the government. According to Bloomberg, which cites court documents, employees from companies including Goldman Sachs, Lloyds Banking Group and HSBC are part of the action. British composer Andrew Lloyd-Webber is […]

Embark Services returned to profit in 2017 as it reported an increase in self-invested personal pension clients. Embark Services is a subsidiary of Embark Group that trades under the Hornbuckle and Embark brands. The business reported pre-tax profit for the year ending 31 December 2017 of £136,000 compared with a loss in 2016 of £2.4m. […]

Architas UK has seen inflows drop by just over 70 per cent in the first half of the year. The Axa-owned asset manager reported £152m net inflows for the first six months of 2018, compared with £546m in the first half of 2017. Globally, Architas’s net inflows dropped to €797m (£710.6m) in the first half […]

14th August 20182:45 pm

Comments

Leave a comment

Why register with Money Marketing ?

Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.